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Leicester

๐Ÿ‘ค Speaker
729 total appearances
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Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

S Y B I L attack.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

What is a Sybil attack?

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

i thought it was good for you to hear from a different lens and an attempt to simplify and just to caveat for some that don't seem to understand this this is an interpretation people are encouraged to go and research it themselves create their own interpretation for their own reasons meanwhile i can make my own interpretation it is incumbent look it up on people to do their own interpretation that's the whole point

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

You should never blindly follow a single person as gospel because then you get into a cult.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

Now, having said that a Sybil attack at a high level in order to define it in a way you'll understand, I have to simplify what leads to it.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

Everybody I think understands the concept of a,

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

It is a ledger.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

It is an accounting of transactions over time.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

The accounting of transactions has to be maintained.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

The maintenance of the ledger is so that the integrity of the chain is persisted.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

We have to make sure

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

that there's acknowledgement of each transaction.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

So when you go in your wallet and you sign for something, you approve something, you are telling the chain, yes, I am saying that this is my transaction.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

Yes, I'm authorizing to do this transaction, whether that's connected to an application, whether it's sending crypto to somebody, whether it's receiving it,

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

unless the receiver is an asynchronous, which is a different thing.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

I won't get into here.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

Point is that there's that first acknowledgement.

Crypto Talk Radio: Basic Cryptonomics
Leicester on Sybil Attacks in Crypto

You are acknowledging I'm making a transaction.